Results in the Latin America and Caribbean Region 2021, Volume 17
As a direct consequence of the COVID-19 pandemic, 2021was a year of enormous challenges in Latin America and the Caribbean (LAC). The region faced a daunting health emergency, for which it was ill prepared, and then endured the devastating social a...
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| Format: | Report |
| Language: | English |
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World Bank, Washington, DC
2022
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| Online Access: | http://documents.worldbank.org/curated/en/495451644210004890/2021-Results-in-the-Latin-America-and-Caribbean-Region http://hdl.handle.net/10986/36937 |
| Summary: | As a direct consequence of the
COVID-19 pandemic, 2021was a year of enormous challenges in
Latin America and the Caribbean (LAC). The region faced a
daunting health emergency, for which it was ill prepared,
and then endured the devastating social and economic costs
of the crisis. LAC’s daunting challenge was to begin its
social and economic recovery while still battling the
pandemic. The World Bank supported these efforts and made a
record contribution to the region’s countries, helping to
mitigate the damage, protect the most vulnerable and support
reconstruction efforts. The road to full recovery will still
be long, and the region must continue to move toward more
inclusive and resilient growth, deepening its capacity to
absorb shocks and offering a greater well-being to its
population. The briefs contained in this book showcase the
many ways that both active and recently closed World
Bank-financed projects are supporting the region’s efforts
to overcome the current health crisis, and helping to lay
foundations for long-term development, with inclusive
growth, human capital creation and greater resilience. To
promote inclusive growth, efforts were made to ensure that
the benefits of investments in key sectors reach everyone.
In the Brazilian state of Pernambuco, for example, a US$190
million loan helped finance investments in water supply and
sanitation infrastructure, reducing water rationing for
900,000 people in Recife and connecting 70,000 people to the
sewerage network. In northern Argentina, with a US358.8
million dollars loan from the Bank, investments were made
along 418 kilometers of provincial roads, improving access
and mobility for the area’s rural populations and indigenous
communities. Human capital investments are fundamental for
development. They help provide people with the tools they
need to prosper and take advantage of available
opportunities in a time of uncertainty and deep
transformation in the world of work. |
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